Établissement de paiement offrant des produits et services de paiement — Morocco

The Morocco category mapped to e-money issuance and payment processing.

Non-bank payment institution licensed by Bank Al-Maghrib (agrément du Wali) under loi n° 103-12 (Arts. 15-16 + the agrément Title). This is the general établissement de paiement class - the register (Rapport annuel sur la supervision bancaire, Annexe 2) lists it as 'Etablissements de paiement offrant des produits et services de paiement' (16 entities at 2024-12-31). The loi Art. 16 service set spans comptes de paiement (the wallet / e-money function), transfert de fonds, and the execution of payments, prélèvements, card operations and virements, hence dual-mapped to e-money issuance AND payment processing: the annex grain cannot honestly separate the two per entity (per-entity scope is fixed by each agrément, not published in the annex), so the category is mapped at the register's two-class grain. Minimum capital MAD 10,000,000 (circ. 20/G/2006 Art. 2 bis, inserted by circ. 8/W/2016). An EP may also carry out opérations de change, but only when separately authorized by the Office des Changes - the dual-authorization axis recorded in the MA cross-border rules.

Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.

Source recency: Bank Al-Maghrib's official list is dated 2024-12-31 — the most recent official publication; verify current status directly with Bank Al-Maghrib. Entries below are as reported by that list — not a statement of current status.

Coverage note: Named-annual register: no live queryable list exists — the établissement-de-paiement population is named once a year in Bank Al-Maghrib's Rapport annuel sur la supervision bancaire (Annexe 2, « Etablissements de paiement offrant des produits et services de paiement »). Per the Exercice 2024 report (population as of 2024-12-31), 16 payment institutions hold this general EP licence.

Licensed providers

16 entities

#	Provider	Status (as reported)	Source	Source date
1	AL FILAHI CASH	licensed	Bank Al-Maghrib	2024-12-31
2	BARID CASH	licensed	Bank Al-Maghrib	2024-12-31
3	CASH PLUS SA	licensed	Bank Al-Maghrib	2024-12-31
4	CENTRE MONETIQUE INTERBANCAIRE (also written CMI)	licensed	Bank Al-Maghrib	2024-12-31
5	CHARI MONEY	licensed	Bank Al-Maghrib	2024-12-31
6	DAMANE CASH	licensed	Bank Al-Maghrib	2024-12-31
7	LANA CASH	licensed	Bank Al-Maghrib	2024-12-31
8	MAROC TRAITEMENT DE TRANSACTIONS (also written M2T)	licensed	Bank Al-Maghrib	2024-12-31
9	MAYMOUNA SERVICES FINANCIERS	licensed	Bank Al-Maghrib	2024-12-31
10	MAZMA TECHNOLOGIES	licensed	Bank Al-Maghrib	2024-12-31
11	MT CASH	licensed	Bank Al-Maghrib	2024-12-31
12	NAPS SA (also written NAPS)	licensed	Bank Al-Maghrib	2024-12-31
13	ORANGE MONEY MAROC (also written Orange Money)	licensed	Bank Al-Maghrib	2024-12-31
14	Vantage Payment system	licensed	Bank Al-Maghrib	2024-12-31
15	WAFA CASH	licensed	Bank Al-Maghrib	2024-12-31
16	WANA MONEY	licensed	Bank Al-Maghrib	2024-12-31

Licence requirements

What it takes to hold this licence, as stated in the cited official instruments. Capital and fees are shown in the currency the statute itself uses.

Requirement	As published	Source	Source date
Minimum capital	MAD 10,000,000 (dix millions de dirhams) — the minimum paid-up capital or fully-versed endowment of a payment institution licensed to offer the loi 103-12 Art. 16 payment services. Verbatim “2- 10.000.000,00 DH (dix millions de dirhams) pour les sociétés agréées pour offrir les services de paiement prévus à l'article 16 de la loi n° 103-12 relative aux établissements de crédit et organismes assimilés.”	Circulaire du Wali de Bank Al-Maghrib n° 8/W/2016 (10 juin 2016) inserting Art. 2 bis (établissement de paiement minimum capital) into circ. 20/G/2006, as homologated (BO n° 6666 du 19-4-2018)	2016-06-10
Local presence / incorporation	A value has been located but not yet verified, so we don't publish it here.	—	—
Timeline	A value has been located but not yet verified, so we don't publish it here.	—	—
Local ownership	A value has been located but not yet verified, so we don't publish it here.	—	—
Fees	A value has been located but not yet verified, so we don't publish it here.	—	—
Ongoing obligations	A value has been located but not yet verified, so we don't publish it here.	—	—

Requirements as published in the cited instruments — not legal or compliance advice. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.

The equivalent in other markets

Categories mapped to the same normalized activity — fintech:EMONEY_ISSUE:

Cross-border rules for Morocco →